24 Nov 2014 09:42
Corporate Information Update to the London Stock Exchange
November 24, 2014
The Carlyle Group invests in Diamond Bank Plc
Lagos, Nigeria - Diamond Bank Plc (NGSE: DIAMONDBNK) hereby informs the Nigerian Stock Exchange that Global Alternative Asset Manager, The Carlyle Group (NASDAQ: CG) through its Carlyle Sub-Saharan Africa Fund, has invested $147 million in Diamond Bank Plc. This investment was made possible through purchase by the company of rights traded on the floor of the Nigerian Stock Exchange in the Bank's recently completed (NGN 50 billion) rights issue.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $203 billion of assets under management across 129 funds and 141 fund of funds vehicles as of September 30, 2014. Carlyle has expertise in various industries, including financial services and employs 1,700 people in 40 offices across six continents.
Launched in 2011, The Carlyle Sub-Saharan Africa Fund and its affiliates have invested almost $300 million to date across a variety of industries, including logistics, mining services, retail and financial services, and across a variety of geographies, including Nigeria, Mozambique, Zambia, Tanzania, the Democratic Republic of the Congo and Southern Africa. More information on Carlyle Group is available on:
Web:www.carlyle.com
Videos:www.youtube.com/onecarlyle
Tweets:www.twitter.com/onecarlyle
Podcasts:www.carlyle.com/about-carlyle/market-commentary
Uzoma Dozie, The Group Managing Director/Chief Executive Officer (Designate) of Diamond Bank, believes the investment by the company is a testament of the Bank's strong brand and success over the years, particularly in the Retail/SME space. He also expressed confidence that they will bring unique values to their involvement with the bank and that this will be fruitful and beneficial to all stakeholders. Particularly, Diamond Bank stands to benefit from Carlyle's extensive network of financial services specialists as it continue to strengthen its market position, expand commercial and retail offerings, and further enhance operations.
End of Information Update